v2.1.0 — IFRS feature review

Adds a capability the skill did not previously have: reviewing software that produces accounting figures, rather than answering questions about the standards.

What it does

Give it a feature that produces an accounting figure — a billing engine, a revenue report, a balance-sheet generator — together with one real output it produced, and it reports what is wrong in language a developer can act on. It refuses to run on code alone: reading an implementation and pronouncing it correct is guessing at the output rather than looking at it.

Findings carry a class saying who fixes the defect — Non-compliant (accounting logic), Wrong (calculation), Incomplete (data model), Untraceable (logging) — and a severity: Blocking, Needs work, Conforms. The verdict follows arithmetically: any blocking finding means not ready. The reviewer states what a standard requires and what the code does instead. It never recommends a provision rate, an estimate or a policy, because those are decisions for a qualified accountant.

Standard numbers stay out of the body of a finding and sit in a source line at the end, so a review reads as plain English to an engineer and stays checkable by their accountant.

Coverage

Six standards, the ones software actually touches: IFRS 15 revenue, IFRS 9 receivables and expected credit losses, IAS 1 and IFRS 18 presentation, IAS 21 foreign currency, IFRS 16 leases, IAS 7 cash flows. Anything a feature touches outside them is reported as unchecked rather than guessed at — silence would read as approval.

Every review also checks the 1 January 2027 presentation change, since code written today is still running when IFRS 18 replaces IAS 1.

How it was verified

tests/ holds a deliberately defective balance-sheet generator with four planted defects, and an answer key kept outside the fixture directory so a reviewing agent cannot read what it is being tested on.

An agent with no sight of the key found all four defects at the correct severity — and four more that were not planted, including that the statement's Cash line is the sum of paid invoices and therefore cannot be a cash balance. It also declined to recommend a provision rate, which the skill forbids.

That run corrected the key: the sales-tax defect had been classed Wrong, and breaking a requirement is Non-compliant.

scripts/check_citations.py now resolves the citations in answer keys as well as the skill — a key with a wrong paragraph reference would fail a correct review. 4,239 of 4,245 checkable citations resolve (99.86%), across 4,452 in total.

Also in this release

• scripts/check_feature_review.py — checks a review's shape against the rules the skill sets
• CONTEXT.md — the domain glossary
• docs/adr/ — two decisions recorded: that practice notes may be uncited under a fixed heading, and that reviews split by standard rather than by module
• A fourth check in CI, asserting every figure the answer key quotes

Full detail in CHANGELOG.md.

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This skill provides technical guidance and does not replace professional judgement. Consult qualified professionals for specific accounting decisions.

v2.0.0 — IFRS 18, 19, 20 and S1/S2; full citation re-verification

A full content re-verification and expansion. Every paragraph citation in the repository was
re-checked against the standards' own text; 4,234 of 4,240 citations resolve against source
paragraph text, with the remainder being Basis for Conclusions pointers and IAS 39, for
which no extracted source exists. The skill grew from 4,771 to 13,321 lines.

Released as a major version because two errors corrected below produced incorrect output in
version 1.0.0, and readers who relied on them need to know.

Added

• IFRS 18 Presentation and Disclosure in Financial Statements — the three income and
  expense categories, the required subtotals, management-defined performance measures, and
  aggregation and disaggregation, including the April 2026 IFRS IC agenda decision on the
  separate financial statements of a parent.
• IFRS 19 Subsidiaries without Public Accountability: Disclosures — scope, eligibility,
  and the reduced disclosure regime.
• IFRS 20 Regulatory Assets and Regulatory Liabilities at status level. Issued 27 May
  2026, after the 2026 annotated edition closed; its paragraph text is unpublished, so there
  is no IFRS 20 disclosure checklist and IFRS 14 continues to apply until an entity adopts it.
• IFRS S1 and IFRS S2 — the ISSB sustainability disclosure standards, with the
  general requirements, the climate-related disclosures, and the transition reliefs.
• An interpretations section covering the IFRIC and SIC interpretations in force and the
  IFRS IC agenda decisions annotated onto the standards, including the seven standards
  (IFRS 9, IFRS 15, IFRS 17, IAS 7, IAS 29, IAS 37, IAS 38) that carry agenda decisions
  published since 1 January 2025.
• An amendment and effective-date register at the end of standards-reference.md,
  established as the date spine for the whole skill: where a date elsewhere disagrees with
  the register, the register governs. Includes EU endorsement status and the not-yet-endorsed
  pipeline.
• Workflows for deferred tax (IAS 12), business combinations (IFRS 3), sale-and-leaseback,
  IFRS 9 journal entries, the CSM roll-forward, goodwill impairment, diluted EPS, and IFRS 18
  categorisation.
• Compliance templates for materiality, going concern, interim reporting, first-time
  adoption, and management-defined performance measures.
• Six committed python assertion blocks, carrying 38 assertions, proving the arithmetic of
  the worked examples in workflows.md and transition-guide.md. They are intended to be
  re-run and are now executed in CI.
• docs/SOURCING.md, documenting the free ifrs.org URL pattern, the paywall and
  table-of-contents traps, the edition-year offset, and the re-verification procedure.
• The [para-unconfirmed] and [ASC-para-unconfirmed] markers, and the convention that a
  bare citation means the paragraph was read in the standard's own text.

Changed

• SKILL.md rewritten as a routing hub, with explicit task-type routing, audience detection,
  and citation rules. It stays under 100 lines by design.
• Transition guide expanded with the US GAAP and local GAAP difference matrices, the IFRS 1
  mandatory exceptions, deferred tax on transition, IT and systems guidance, and transition
  to IFRS 18.
• Standards reference reordered, and editorial commentary removed in favour of requirement
  statements with citations.

Fixed

• An IFRS 3 acquisition journal entry that did not balance. The entry debited CU 6,000,000
  against credits of CU 6,800,000; the CU 800,000 gap was the omitted goodwill. Goodwill is a
  residual under IFRS 3.32, and the debit to goodwill is what makes the acquisition entry
  balance. The corrected entry and a runnable proof are in workflows.md.
• A withdrawn IFRS 1 exemption presented as available. The D10–D11 exemption was removed.
• The IFRS 16 lessor net-investment schedule, which used a discount rate that left a
  residual rather than the rate implicit in the lease. The implicit rate is 5.3686%, at which
  the net investment amortises exactly to nil and cross-casts to total payments.
• The IFRS 9 ECL sequence, where the initial-recognition allowance was stated as the
  reporting-date figure.

Removed

• Statements of Basis for Conclusions content that could not be attributed to an accessible
  source. BC paragraph numbers are retained as pointers only.

Known limitations

• IFRS 20 is covered at status level only; its paragraph text is unpublished.
• US GAAP comparisons are source-verified rather than primary-verified: the FASB Codification
  is registration-gated, so ASC references follow published secondary sources and carry
  [ASC-para-unconfirmed].
• Approximately 50 IFRIC citations are unverifiable — IFRIC 2, 10, 12, 17 and 21 have no
  source text in the extracted corpus.

v1.0.0 — IFRS Skill for AI Agents

What's Included

40 Standards — Complete reference for all active IFRS (1-17) and IAS (1-41) standards with scope, core principles, key rules, disclosure requirements, common pitfalls, and cross-references.

7 Workflows — Step-by-step procedures with journal entries:

• Revenue Recognition (IFRS 15)
• Lease Accounting (IFRS 16)
• Impairment Testing (IAS 36)
• Financial Instruments (IFRS 9)
• First-Time Adoption (IFRS 1)
• Deferred Tax (IAS 12)
• Business Combinations (IFRS 3)

5 Compliance Templates — Disclosure checklist, gap analysis, audit memo, management representation letter, accounting policy summary.

Transition Guide — Framework-agnostic GAAP-to-IFRS transition with 10 difference areas, 3-phase project plan, IFRS 1 exemptions, deferred tax implications, and IT/system guidance.

Installation

git clone https://github.com/ramyatrouny/ifrs-skill.git ~/.claude/skills/ifrs

Works with Claude Code, Codex CLI, Gemini CLI, Cursor, and any agent supporting the agentskills.io specification.